Moody's rates Qtel currency A1

Moody's Investors Service said it has assigned A1 local and foreign currency long-term issuer ratings to Qatar Telecom (Qtel) QSC.

The outlook is stable.

This is the first time Moody's said it has assigned ratings to Qtel.

"The A1 ratings for Qtel benefit from implicit support from the Qatari government, which remains the majority shareholder with a 55% direct stake, its leading market positions as the local incumbent integrated telecommunication service provider in Qatar as well as in the international markets that Qtel has entered over the recent years," said Martin Kohlhase, the DIFC/Dubai-based lead analyst for Qtel.

The close links with the government, further substantiated by a golden share that has veto rights in respect to strategic decisions in addition to board representation, result in a four-notch uplift from the baseline credit assessment, Moody's noted.

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